Handelsbanken Fonder AB lifted its stake in shares of Allegion plc (NYSE:ALLE - Free Report) by 30.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,000 shares of the scientific and technical instruments company's stock after acquiring an additional 7,200 shares during the quarter. Handelsbanken Fonder AB's holdings in Allegion were worth $4,044,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Crew Capital Management Ltd. boosted its stake in Allegion by 224.9% in the 4th quarter. Crew Capital Management Ltd. now owns 5,810 shares of the scientific and technical instruments company's stock worth $759,000 after purchasing an additional 4,022 shares during the period. Renaissance Technologies LLC boosted its stake in Allegion by 438.6% in the 4th quarter. Renaissance Technologies LLC now owns 267,700 shares of the scientific and technical instruments company's stock worth $34,983,000 after purchasing an additional 218,000 shares during the period. Daiwa Securities Group Inc. boosted its stake in Allegion by 73.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,761 shares of the scientific and technical instruments company's stock worth $2,452,000 after purchasing an additional 7,950 shares during the period. Magnetar Financial LLC bought a new position in Allegion in the 4th quarter worth approximately $4,398,000. Finally, Proficio Capital Partners LLC bought a new position in Allegion in the 4th quarter worth approximately $2,090,000. 92.21% of the stock is currently owned by institutional investors.
Allegion Trading Down 2.5%
NYSE:ALLE traded down $3.49 during midday trading on Friday, hitting $135.18. 556,572 shares of the company traded hands, compared to its average volume of 870,002. The firm's fifty day moving average is $136.50 and its 200-day moving average is $132.92. Allegion plc has a 12-month low of $113.27 and a 12-month high of $156.10. The firm has a market capitalization of $11.63 billion, a P/E ratio of 19.82, a P/E/G ratio of 3.97 and a beta of 1.02. The company has a current ratio of 2.04, a quick ratio of 1.43 and a debt-to-equity ratio of 1.32.
Allegion (NYSE:ALLE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The scientific and technical instruments company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.18. Allegion had a return on equity of 45.12% and a net margin of 15.84%. The company had revenue of $941.90 million for the quarter, compared to analyst estimates of $918.53 million. During the same quarter in the prior year, the firm posted $1.55 EPS. Allegion's quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Allegion plc will post 7.77 EPS for the current year.
Allegion Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a yield of 1.51%. Allegion's payout ratio is presently 28.65%.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Allegion from $140.00 to $135.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Morgan Stanley upped their price objective on Allegion from $137.00 to $139.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Wall Street Zen cut Allegion from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Robert W. Baird upped their price objective on Allegion from $144.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Finally, Barclays upped their price objective on Allegion from $126.00 to $128.00 and gave the stock an "underweight" rating in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Allegion currently has an average rating of "Hold" and a consensus target price of $140.40.
Read Our Latest Research Report on Allegion
Allegion Company Profile
(
Free Report)
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.
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